As I mentioned earlier, at the start of the day today, morale at Nortel was as low as the stock value. Well, it looks like good times are here again at the telecom once-giant, as the eight sadly underpaid executives are going to get their performance retention bonuses after all. You just know that those 1300 laid off last year without their contractually-mandated severence pay are weeping with joy that these pampered babies that have managed to help the company lose only $7-billion (US) in the last four years will receive their due. Who knows what fun they might have over the next four years?
Yes, morale has indeed shot through the roof today, as they go home for the weekend knowing that a further 5,000 of their fellows will lose their jobs through the remainder of the calendar year, freed of any burden of severance that might otherwise complicate their EI application process.